(Source: Associated Press/AP Online)
NEW HYDE PARK, N.Y. - Real estate investment trust Kimco Realty Corp. said Thursday that together with its joint venture partners it has repaid $145 million of credit facility debt.
The repayment has been made since July 1 with joint venture partners, which include investments funds sponsored by Prudential Real Estate Investors.
The credit facility, which totaled about $650 million at the beginning of this year, was reduced to $616 million at June 30 through asset sales.
The additional $145 million payment reduces the credit facility to $471 million, which is due Aug. 26, 2010. It is expected to be reduced over the next 12 months from the sale of specifically identified assets from the ventures.
Kimco owns and operates 1,466 retail properties including neighborhood and community shopping centers.
A service of YellowBrix, Inc.
